Uniswap Fee Destruction Rate Shatters Expectations: Standard Chartered Warns Target Price May Be Too Low

Geoff Kendrick, Global Digital Assets Research Head at Standard Chartered Bank, has expressed concerns that Uniswap's ($3.47) target price of $100 by 2030 may be too low.

Kendrick pointed out that the protocol's fee destruction rate on Robinhood Chain has exceeded expectations.

Data shows that from July 27 to August 12, Uniswap's daily income was approximately $244,000, with an annualized revenue of around $91 million, all of which is being used for buying back and destroying UNI tokens.

At the current price of around $3.53, the annualized destruction rate would be approximately 4% of the total supply (6.242 billion UNIs).

Kendrick described this destruction rate as 'clearly unsustainable', even at a target price of $6.5 by 2026.